ARSICA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ARSICA
Largest movements
- Cash +€35,571
up €35,571 (+26.5%), from €134,014 to €169,586
mainly Net result for the year (+€35,504) and Other debts (+€14,099)
- Tangible fixed assets -€10,141
down €10,141 (-4.5%), from €223,899 to €213,758
of which Land and buildings: -€5,865
- Profit (loss) carried forward +€35,504
up €35,504 (+69.8%), from €50,869 to €86,373
- Other debts +€14,099
up €14,099 (+17.1%), from €82,463 to €96,561
- Trade debts -€11,073
no longer reported in 2025 (was €11,073)
- Debts after one year -€10,727
down €10,727 (-5.6%), from €189,913 to €179,186
- Current portion of long-term debt -€6,005
down €6,005 (-16.9%), from €35,483 to €29,478
- Gross operating margin -€23,892
down €23,892 (-14.2%), from €168,252 to €144,361
- Taxes -€5,094
down €5,094 (-26.8%), from €19,003 to €13,908
- Staff costs +€3,303
up €3,303 (+4.9%), from €67,597 to €70,900
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €406,656 | €428,912 | +€22,256 | +5.5% |
| Fixed assets | 21/28 | €226,574 | €216,433 | -€10,141 | -4.5% |
| Tangible fixed assets | 22/27 | €223,899 | €213,758 | -€10,141 | -4.5% |
| Land and buildings | 22 | €210,628 | €204,763 | -€5,865 | -2.8% |
| Plant, machinery and equipment | 23 | €7,676 | €2,813 | -€4,863 | -63.4% |
| Furniture and vehicles | 24 | €5,595 | €6,181 | +€587 | +10.5% |
| Financial fixed assets | 28 | €2,675 | €2,675 | = | 0.0% |
| Current assets | 29/58 | €180,082 | €212,479 | +€32,397 | +18.0% |
| Amounts receivable within one year | 40/41 | €46,068 | €42,598 | -€3,469 | -7.5% |
| Trade receivables | 40 | €31,568 | €29,507 | -€2,061 | -6.5% |
| Other amounts receivable | 41 | €14,500 | €13,092 | -€1,408 | -9.7% |
| Cash at bank and in hand | 54/58 | €134,014 | €169,586 | +€35,571 | +26.5% |
| Deferred charges and accrued income | 490/1 | - | €295 | +€295 | |
| Total equity and liabilities | 10/49 | €406,656 | €428,912 | +€22,256 | +5.5% |
| Equity | 10/15 | €72,869 | €108,373 | +€35,504 | +48.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,869 | €86,373 | +€35,504 | +69.8% |
| Amounts payable | 17/49 | €333,788 | €320,539 | -€13,248 | -4.0% |
| Amounts payable after more than one year | 17 | €189,913 | €179,186 | -€10,727 | -5.6% |
| Financial debts | 170/4 | €189,913 | €179,186 | -€10,727 | -5.6% |
| Amounts payable within one year | 42/48 | €143,875 | €141,353 | -€2,522 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €35,483 | €29,478 | -€6,005 | -16.9% |
| Trade debts | 44 | €11,073 | - | -€11,073 | |
| Suppliers | 440/4 | €11,073 | - | -€11,073 | |
| Taxes, remuneration and social security | 45 | €14,857 | €15,314 | +€457 | +3.1% |
| Taxes | 450/3 | €11,912 | €9,005 | -€2,907 | -24.4% |
| Remuneration and social security | 454/9 | €2,944 | €6,309 | +€3,364 | +114.3% |
| Other amounts payable | 47/48 | €82,463 | €96,561 | +€14,099 | +17.1% |
| Remuneration, social security and pensions | 62 | €67,597 | €70,900 | +€3,303 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,390 | €13,198 | +€808 | +6.5% |
| Other operating charges | 640/8 | €1,569 | €2,072 | +€503 | +32.0% |
| Non-recurring operating charges | 66A | - | €3,536 | +€3,536 | |
| Gross operating margin | 9900 | €168,252 | €144,361 | -€23,892 | -14.2% |
| Operating profit (loss) | 9901 | €86,697 | €54,655 | -€32,041 | -37.0% |
| Financial income | 75/76B | €23 | €253 | +€230 | +1017.8% |
| Recurring financial income | 75 | €23 | €253 | +€230 | +1017.8% |
| Financial charges | 65/66B | €4,131 | €5,496 | +€1,365 | +33.0% |
| Recurring financial charges | 65 | €4,131 | €5,496 | +€1,365 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €82,589 | €49,412 | -€33,176 | -40.2% |
| Income taxes | 67/77 | €19,003 | €13,908 | -€5,094 | -26.8% |
| Profit (loss) for the period | 9904 | €63,586 | €35,504 | -€28,082 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,586 | €35,504 | -€28,082 | -44.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.